Cost Plus Contract In Project Management In Phoenix
Category:
State:
Multi-State
City:
Phoenix
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Contract in project management in Phoenix is a crucial legal document that outlines the agreement between the Contractor and the Owner for a construction project. This form enables the Owner to pay the Contractor for actual material costs plus an additional fee for services rendered, providing transparency in budgeting. Key features of the form include the defined scope of work, work site details, permit responsibilities, and conditions regarding soil. The form also specifies insurance requirements, boundary survey provisions, and procedures for making changes to the project scope, ensuring clarity and accountability. It incorporates a late payment clause and warranty information, protecting both parties’ interests. Filling instructions emphasize clear disclosure of costs and compliance with local regulations. This form is particularly useful for attorneys, partners, and owners involved in real estate development, as well as paralegals and legal assistants supporting contract preparation. It serves as a template for managing financial expectations and project scope effectively, minimizing disputes during the construction process.
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FAQ
FAR 16.306. It provides for two types of CPFF contracts: the Completion type, which has a “definite goal or target and specifies an end product,” and the Term type, which “obligates the contractor to devote a specified level of effort for a stated time period.”
